Mining giants trim investments by billions

The major mining companies are feeling the impact of the radical change in commodity prices, and they are now preparing for a new status quo by cutting billions from their investment budgets. Here is the overview.

Photo: Vale

Sliding commodity prices have completely altered the conditions for the global mining companies, which have been practically lining up lately to slash billions from their investments budgets going forward.

The latest in the line of budget cuts came from Swiss-based Glencore, which took its lead from similar announcements made recently by companies such as Vale, Rio Tinto and Anglo American.

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